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8/30/2011 11:34AM

Monthly Jobs Numbers Could Spark Recession Fears

Recent economic surveys are causing economists to worry that a recession could be ahead. The sentiment makes the monthly jobs data all the more important to watch, Steve Goldstein reports on Markets Hub. (Photo: Reuters.)

This transcript has been automatically generated and may not be 100% accurate.

... I ... be that the euro ... now you know ... will they hear Paul will play here ... the goal being here ... let's talk about a recession Steve ... what what finally he added that might signal ... a recession ... well I think one of Time's reaction of earlier this morning that such consumer confidence as measured by the Conference Board a sell off a cliff ... near the University of Michigan a similar report that it is well ... and Courtney and of business sentiment ... indicators tell you what the Fed regional surveys ... the Philly Fed ... I which is a very respected survey ... that had a tremendous decline as well ... so when you put them together ... these are signs that are traditionally associated ... with the beginning of a recession ... there is the bought however ... and that is ... the answer surveys ... up and it is possible ... that the hard data ... um ... you know such a good job we're coming up this Friday ... we we haven't yet seen turning in those that are right now one reason for that is to simply be serving Delek comes in question were right ... all you Mike Casey has gone honestly one one about that this this notion of the concert consumer office does seem to be the driving feature of this of this kind of commitment ... where is it with that in two cycles and other factors have driven ... the recovery and so forth this time around it's a lot it's really focused on one conference inside ... it and I think that says up to Triple I ... lost AAA rating has ... really blown it with that ... is your chance therefore that we can just ... get through this in that sense media something is fleeting as people's moods ... the weenie in fact ... get a bounce out of the heat if it is not the poster ... it's it's it's something was alone with fuzzy ... I would agree that point ... um ... it is possible that after the SNP downgrade the people's confidence just really ... fell off a cliff ... and really the question is well is that as ... people reacted to the weak U S no longer has AAA ... you know we're no longer the gold standard Ono ... um are they actually logo still go ... to supermarket to get this to go by ... to stand ... and will businesses continue to invest so that that's really the key thing ... for ... by what happened ... was even you a piece of the MarketWatch's were about ... let's talk about the Marcato from last Friday's jobs report ... I mean no one expects solid gangbuster number ... what are people expected ... well kinda expecting it to be pretty weak ... I'd Dave contradictions in around fifty thousand jobs created ... in August ... and you know you need about a hundred twenty thousand under fifty thousand just to keep up ... with the population growth in the United States ... to be a terrible number ... in and of itself ... but there are some people actually expecting that ... there was jobs deterioration ... on a net basis in August ... so it's not an actual making of million down the number into one day tomorrow is the one that ... I listen steam the added austerity in the present time